Economist Intelligence Unit (EIU)
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The Economist Intelligence Unit provides a constant flow of analysis and forecasts on more than 200 countries and eight key industries. We help executives make informed business decisions through dependable intelligence delivered online.

EIU Georgia

Overview

The Economist Intelligence Unit expects Mikheil Saakashvili, who was re-elected president in January 2008, to remain in power in 2010-11. Mr Saakashvili's already diminished popularity waned further following his failed attempt in August 2008 to regain the breakaway province of South Ossetia by force, which led to a brief but damaging conflict with Russia. However, divisions among the opposition have prevented them from mounting a credible challenge to Mr Saakashvili. After contracting by an estimated 5.7% in real terms in 2009, real GDP will resume positive growth in 2010, as the global economic recovery continues, rising to 4.5% in 2011. The current-account deficit will narrow over the forecast period as the growth of goods exports and service credits increase. This will contribute to a gradual fall in the current-account deficit to about 14% of GDP by 2011.

Key Reports Available for Georgia
  • Country Report
  • Country Profile
  • Basic Data

    Land area
    69,700 sq km
    Population
    4.4m (January 1st 2008)
    Main towns
    Population in '000 (2008 government estimates)
    Tbilisi (capital): 1,107
    Kutaisi : 189
    Zugdidi: 171
    Batumi: 122
    Climate
    Western Georgia has a humid, subtropical climate. The climate in the east varies from subtropical to temperate. The average temperature ranges from 2°C in January to 24°C in August
    Language
    Georgian is the state language; Russian is spoken in the towns; Armenian, Azeri, Abkhazian and Ossetian are also spoken
    Measures
    Metric system
    Currency
    The lari was introduced on September 25th 1995, replacing the Georgian coupon, at Lari1.3:US$1. Annual average exchange rate in 2007: Lari1.67:US$1. The market rate on October 2nd 2008 was Lari1.41:US$1
    Time
    Four hours ahead of GMT
    Public holidays
    January 1st (New Year); January 7th (Christmas); January 19th (Epiphany); Easter Monday (April 28th in 2008, April 20th in 2009); May 26th (Independence Day of the 1918 Georgian Republic); August 28th (Assumption of the Virgin); October 14th (Svetitskhovloba); November 23rd (St George's Day)


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